New airport planned for Uganda’s northeast to boost tourism

Uganda is expanding its air travel network with a second international airport planned in the northeast.

Tourbillon: Bugatti’s new $4 million hybrid supercar

Bugatti introduces the Tourbillon, its first hybrid supercar boasting 1,800 horsepower, a 445 kph top speed, and a hefty $4 million price tag.

Niger revokes French firm’s license at major uranium mine

In a significant shift, Niger cancels French company Orano’s license at the massive Imouraren uranium mine.

Tanzania: IMF approves $786 million for climate action

Tanzania secures critical funding from the IMF to tackle climate change and bolster its economic recovery.

Nigeria ups oil block auction offerings amidst investor interest

Nigeria’s oil production is declining, and they’re looking to compete with Angola and Namibia.

TotalEnergies, NNPC plan $550M investment in Nigerian gas facility

The gas processing facility will be established on the Ubeta onshore gas field, co-owned by TotalEnergies and NNPC

Zambia to import 650,000 tons of maize from Tanzania

Zambia’s maize production for the 2023/2024 crop season is projected to fall to 1.5 million tons from 3.2 million tons the previous season

Botswana’s growth decreases due to diamond slump

A slump in diamond sales raises concerns, prompting the central bank to suggest a downward revision.

Ghana’s growth sprouts as debt talks resume

Ghana’s economy grew in the first quarter of 2024 despite facing upcoming debt restructuring talks with bondholders.

Debt restructuring threatens smaller African development banks

Debt restructuring in Zambia, Ghana and Malawi casts doubt on the privileged status of some African development banks.

Nigeria’s annual inflation hits 33.95%, highest in 28 years

Data from the National Bureau of Statistics reveals that food and non-alcoholic beverages were the primary contributors to inflation in May

Ruto urges G7 to reform financial systems to back growing nations

Kenyan President William Ruto urged the G7 summit to support a revamp of the global financial system to aid debt-burdened developing countries and called for Africa to have a permanent seat on the UN Security Council.

World Bank approves $2.25 billion loan for Nigeria’s ailing economy

Nigeria receives a $2.25 billion loan from the World Bank to support economic reforms despite causing initial hardship and a rising debt burden.

Seplat: NNPC withdraws challenge to $1.3B Exxon deal

Nigeria, the largest oil producer in Africa, heavily relies on crude oil for over 90% of its foreign exchange earnings and about half of its budget

Ghana resumes debt talks with bondholders after creditors deal

New negotiations focus on meeting the fund’s requirements and sharing recent economic data.

Kenya presents its biggest ever budget with new tax proposals

The largest budget in Kenya’s history has been unveiled, introducing controversial new taxes aimed at reducing the budget deficit but drawing criticism for their potential economic impact.

Uganda shifts debt strategy, aims to curb commercial loans

Despite debt worries, Uganda unveils an ambitious budget focused on infrastructure development

Zambia to create new mineral investment and trading entity

A newly created entity will focus on investment and trading, shifting the model from dividend payments to production sharing with mining companies.

Apple stock surges after unveiling new AI platform

Apple’s stock price surged after unveiling its new AI platform, Apple Intelligence, briefly surpassing Microsoft’s market capitalization.

Tamer inflation lifts Bitcoin, crypto markets

Bitcoin rebounds above $70,000 as US inflation figures cool down, raising investor hopes for a potential Fed rate cut.

Nigerian president vows to press on with reforms amid hardships

In a televised address on Democracy Day, Tinubu acknowledged the challenges caused by the reforms, which also include higher interest rates and partial removal of electricity subsidies

Tunisia to receive €450 million from EIB

Facing economic hardship, Tunisia receives a €450 million boost from the European Investment Bank.

DRC miners face exploitation despite green energy boom: NGO

A new report reveals shocking working conditions for miners in DR Congo, a key source of cobalt and copper for electric vehicles and green energy.

Mali financial union extends strike over leader’s detention

Initially, SYNABEF’s strike lasted from Thursday to Saturday following Bah’s arrest on Wednesday


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